Caribbean News

Jamaica to see more than US $20 Billion in new investments – Minister Shaw

Published

7 years ago

October 19, 2017

United States, October 19, 2017 – Washington, DC – Minister of Finance and the Public Service, Hon. Audley Shaw, says Jamaica will see an injection of more than US$20 billion of new investments that will help to drive the economy and increase job creation.

Addressing an International Monetary Fund (IMF)/World Bank Small States Forum at the headquarters of the World Bank on Saturday (October 14), Minister Shaw noted that this large investment is not a loan from the Bank or the IMF but a direct investment in Jamaica from the private sector and overseas investors.

“The Government is on a drive to move Jamaica forward by attracting large investments into the country, which is one engine to spur the economy,” he pointed out.

He told the participants that the Government has targeted a series of infrastructure development projects that will drive the economy towards growth. These include reopening of the Alpart alumina plant with an investment of more than US$3 billion to expand the facility, divestment of the country’s main container terminal, construction of the north-south highway, and the redevelopment of downtown Kingston.

The Minister pointed out that there is an aggressive programme to reduce the country’s debt-to-gross domestic product (GDP) ratio from 116 per cent to 108 per cent by the end of the fiscal year and down to 96 per cent by year 2020.

He said that Jamaica intends to work with the World Bank and other multinational agencies to develop the country’s human capacities and capital to grow the economy.

Release: JIS

Caribbean News

Haiti- ECHO humanitarian efforts

Published

23 hours ago

April 29, 2024

Shanieka

Rashaed Esson

Staff writer

#Haiti#Crisis#HumanitarianEfforts#ECHO, April 23rd, 2024 – Due to the worsening Humanitarian crisis in Haiti with an increase in death toll and injured people, The European Civil Protection and Humanitarian Aid Operations (ECHO), launched an emergency airlift of 5 flights carrying essentials which include up to 62 tons of medicine as well as emergency shelter equipment, and water and sanitation items. These were brought to Cap Haitien according to a report from the United Nations Office for the Coordination of Humanitarian Affairs (OCHA), on April 19, as the international Airport in Port au prince remains closed following the gang attack last month.

Caribbean News

Dominica repeals laws criminalizing gay sex

Published

23 hours ago

April 29, 2024

Shanieka

Rashaed Esson

Staff Writer

#Dominica#LGBTQIA, April 24, 2034- Dominica has decided to remove colonial era laws that criminalized gay sex, joining Trinidad and Tobago, Barbados, St. Kitts and Nevis and Antigua and Barbuda.

This comes almost five years after a man of the queer community, whose identity was withheld for his safety, spoke out against Dominica’s laws in 2019, saying they violated his rights.

Caribbean News

Jamaica recognizes Palestine

Published

23 hours ago

April 29, 2024

Shanieka

Rashaed Esson

Staff Writer

#Jamaica#Palestine, April 24, 2024– Just days after Barbados, Jamaica also decided to recognize Palestine as a sovereign state as announced by Minister of Foreign Affairs and Foreign Trade, Kamina Johnson Smith. She reportedly informed that the decision follows a discussion by the Cabinet on Monday April 22.

Commenting on this development in a release, Smith said, “Jamaica continues to advocate for a two-state solution as the only viable option to resolve the longstanding conflict, guarantee the security of Israel and uphold the dignity and rights of Palestinians. By recognising the State of Palestine, Jamaica strengthens its advocacy towards a peaceful solution.”